Income Tax : ITAT Mumbai held that an addition under Section 69A cannot be sustained when the assessee is denied the opportunity to cross-exami...
Income Tax : ITAT Mumbai remanded the case to examine whether Section 56(2)(x) applied based on the agreement date and to consider refund of ex...
Income Tax : ITAT Kolkata condoned appeal delay, set aside the CIT(A)'s order, and remanded the assessment for fresh adjudication after grantin...
Income Tax : ITAT Nagpur held that a 50-year lease is not a transfer under Section 2(47)(vi) where the transaction is only a lease and not an a...
Income Tax : ITAT Ahmedabad allowed Section 10(10B) exemption on BSNL VRS compensation, following coordinate bench rulings despite no claim in ...
Income Tax : ITAT held an assessment passed after the taxpayer's death was invalid in law, quashed the order, and treated all remaining issues ...
ITAT Chennai held that penalty under section 271(1)(c) of the Income Tax Act not sustainable since the additional income offered by the assessee was voluntary and addition is not based upon incriminating material seized during the course of search. Accordingly, order of CIT(A) upheld and appeal of revenue dismissed.
ITAT Chennai quashed a reassessment notice under Section 148, holding that an Assessing Officer cannot reopen an assessment based solely on a change of opinion without fresh tangible material. This safeguards taxpayers from arbitrary reassessments.
ITAT held that charitable trusts without member-wise income shares cannot be taxed at 30% MMR. Tax must be applied at normal slab rates per CBDT Circular 320.
ITAT Mumbai ruled that a flat booked in 2009 is valued based on that year, even if the flat number changed later, preventing a ₹1.26 crore addition under Section 56(2)(vii)(b).
Tribunal held that penalty under Section 270A cannot survive once the Section 14A addition is deleted, especially where no exempt income was earned. The ruling reiterates that prospective amendments cannot justify retrospective disallowances.
The Tribunal ruled that Explanation 5A applies only when the assessee is found possessing undisclosed tangible assets, which was not established. Since no such assets were discovered and the additions came from routine assessments, the penalty under section 271(1)(c) could not stand. This clarifies that the deeming fiction under Explanation 5A is not automatic.
The Tribunal held that the CIT(A) failed to pass a reasoned speaking order and dismissed the appeal ex-parte without proving deliberate non-compliance. The matter was remanded with one final opportunity, reinforcing natural justice requirements.
Tribunal quashed penalty where AO’s addition for alleged bogus purchases was purely estimated, emphasizing that penalties require concrete evidence of income concealment.
ITAT held that before treating high-value purchases as bogus, authorities must verify supplier’s GST status, ITC claims, and money trail. Key takeaway: Procedural diligence is required for large-scale disallowances.
ITAT Kolkata ruled that belated filing of Form 10B is only a technical defect and cannot justify denial of charitable exemption. The Tribunal restored Section 11 benefits after confirming compliance in substance.
